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Otti woos investors to Abia medical city, industrial park, others

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Abia State Governor, Dr. Alex Otti, has called on local and international investors to take advantage of the vast investment opportunities in Abia State, particularly the ongoing Medical City Project and the Abia Industrial and Innovative Park (AIIP), which are designed by his administration to reverse medical tourism, stimulate industrial growth, and accelerate economic development.

Governor Otti made the call at the third edition of Invest Lagos 3.0, a flagship international investment summit hosted by the administration of Governor Babajide Sanwo-Olu in partnership with the Commonwealth Enterprise and Investment Council.

The summit, themed “Lagos: Business Gateway to Africa – Powering Africa’s Next Era of Trade, Talent and Global Economic Leadership,” brought together investors, policymakers, and business leaders from across the world.

While addressing participants during the investment pitches by invited State Governors, moderated by Zain Asher, CNN correspondent, Governor Otti said that the State needed more investment in her healthcare sector, noting that Abia’s healthcare sector has consistently received 15% of the annual budget of the State Government in the last 3 years, only second to education that received the highest allocation of 20%.

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“Today we have been rated as the most health-prepared State (SBM, 2025 Report). That’s looking at how much money we have allocated per capita on healthcare. In the last 3 years, we have allocated 15% of our budget to healthcare.

“We have about 277 Primary Healthcare Centers that we have refurbished, and about 135 of them have been functionalized. We’ll keep functionalizing them as we get all the materials and the healthcare professionals.

“We have hired about 800 healthcare Professionals; some of them came from outside the State to work in Abia State. We have about 7 General Hospitals that we are rebuilding.

“And, we have the tertiary hospitals – the Abia State University Teaching Hospital in Aba, the Specialist Hospital in Amachara, and the one in Umunnato.

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“Where do we need help? We need help in our vision to build a Medical City. We have acquired 200 hectares for it. We have prepared it; we’ve built the road. But we need about 1.3 Billion dollars to put that in place,” Governor Otti stated.

The State Chief Executive explained that the idea is to reverse medical tourism and get at least 200 million dollars out of the about 2 billion dollars that Nigerians spend annually on medical treatments abroad.

On the Abia Industrial and Innovation Park (AIIP) he said, “Another Area we need investment is in the Abia Industrial and Innovation Park…

“The Industrial Park is in Owaza where we have oil and gas,” Gov. Otti disclosed, stating that he will engage more with AFREXIM Bank, whose presentation at the summit dwelt more on investment in the building and development of Industrial Parks.

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Governor Otti used the platform to highlight some of the key people-centered achievements of his administration, including the construction, reconstruction, and rehabilitation of 414 roads spanning about 864 kilometres, as well as ongoing work on 82 additional roads covering approximately 211 kilometres across the State.

The Governor drew the attention of investors to the enterprising and resilient nature of Abia people, noting that the State possesses a vibrant population with exceptional entrepreneurial capacity, capable of producing almost anything when provided with an enabling environment, especially reliable power supply.

He also spoke on the ongoing transformation of the major commercial hubs in the State, including the reconstruction of Ekeoha Market and the comprehensive modernization of Ariaria International Market, alongside other strategic markets.

Governor Otti further highlighted the restoration of near 24-hour power supply within the Aba ring-fenced area, covering nine local government areas.

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He explained that his administration, working closely with the Federal Government through the Office of the Vice President, Senator Kashim Shettima, successfully resolved longstanding challenges that delayed the take-off of the multi-million-dollar Geometric Power Project in Aba for many years.

Governor Otti informed the participants that discussions have also advanced with the Enugu Electricity Distribution Company (EEDC) to replicate the Aba power model in Umuahia and the remaining parts of the State.

He added that the establishment of the Abia State Electricity Regulatory Agency is part of a broader strategy to achieve stable electricity supply across the State and get the State completely off the national grid.

“We believe that Geometric, at maximum capacity of 188 megawatts, would have excess capacity, and we can just wheel it to Umuahia and other parts of the State.

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“And by God’s grace, in a few years, we should also guarantee 24 hours power supply in Umuahia and other local Governments.

“Now, why does this matter? It matters because a lot of manufacturers and industries, about 60-70% of their costs are in power and energy.

“I got a call from somebody yesterday that wanted to relocate a steel plant that had been built in another State.

“He is looking for where he can be guaranteed 24 hours of power supply, and I said, please come.

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“I have already allocated five hectares of land for the plant to be close to Geometric. So, the plant is going to move,” Governor Otti disclosed.

The Governor equally talked about the launch of 20 electric buses in December last year, currently plying the whole State, with an additional 20, currently on their way to Abia from China, making it 40 electric buses with more to come in the coming months until the 100 target is achieved by the end of the year.

“In the last 3 years, Abia has rapidly emerged as an attractive investment destination under Governor Otti’s intentional leadership.

“In the agricultural sector alone, the State has attracted over $320 million in investments, with Presco Plc committing over $200 million to oil palm development and processing, while Nimble Shaw is committing about $120 million to similar investments.

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“KADJI Group, the parent company of Ultimum Limited, producers of razzle drinks, is investing about $100 million in their production facility in Aba, launched earlier this year with an initial investment valued at over $30 million.”

The Chief Press Secretary to Governor Otti, Ukoha Njoku Ukoha, reacting to his boss’s participation in the Lagos summit further added that Governor Otti’s administration recently acquired the moribund Star Paper Mill Limited and the previously underutilized Afro Beverages facility in Aba from the Asset Management Company of Nigeria (AMCON), which investors are in advanced talks for full takeover from the Government.

According to him, the state is jointly developing an Airport project with the Federal Government. The runway being handled by the State Government is speedily progressing.

He added that Governor Otti also recently approved the commencement of a feasibility study for the development of a proposed seaport in Ukwa East Local Government Area of the State.

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The move, Ukoha said forms part of a broader economic strategy to position Abia as a major gateway for trade, commerce, and industrial development in the South-East and South-South regions of Nigeria.

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Citizen Patience and Collaborative Efforts: A Pathway to Greatness for Tinubu’s Government, By Hajia Hansatu Zannah*

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Nation-building is never the sole responsibility of government; it is a shared endeavor that requires the active participation, patience, and collaboration of citizens. In Nigeria today, President Bola Ahmed Tinubu’s administration faces the daunting task of steering the country toward economic stability, social cohesion, and sustainable development. While policies and reforms are critical, their success ultimately depends on the willingness of citizens to remain patient and supportive during the often difficult process of implementation.

Transformational leadership demands bold decisions—structural reforms, economic adjustments, and institutional restructuring—that may not yield immediate results. In such circumstances, patience becomes a vital national asset. By resisting the urge for instant gratification and allowing time for reforms to mature, Nigerians can help create an environment where government initiatives are given the opportunity to succeed.

Every nation, regardless of its stage of development, grapples with challenges—economic struggles, political transitions, social tensions, and infrastructural gaps. These realities test the resilience of both leaders and citizens. In moments of strain, the attitude of the people toward their country becomes a powerful determinant of progress. Constructive criticism is healthy and necessary for accountability, but outright condemnation and vitriolic attacks against one’s nation can be deeply counterproductive.

Words shape perception, and perception influences reality. When citizens consistently speak negatively about their country, they reinforce hopelessness and despair. This weakens national morale and discourages foreign investors, partners, and allies who rely on the confidence of citizens as a measure of stability. By contrast, balanced and solution-oriented dialogue strengthens Nigeria’s image and inspires collective action.

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Collaboration, however, goes beyond compliance—it requires active engagement. Citizens can contribute meaningfully to nation-building by supporting reforms through constructive dialogue rather than resistance, participating in civic duties such as voting, community service, and public consultations. These actions serve as catalysts for greater national progress. At the same time, holding leaders accountable in a respectful and lawful manner is essential. While harsh and divisive criticism may be insidious, patriotism calls for promoting unity across ethnic, religious, and political divides to strengthen national cohesion.

If citizens embrace patience and collaboration, Tinubu’s government stands a better chance of achieving greatness. Economic reforms can stabilize markets, infrastructural projects can transform communities, and social policies can uplift vulnerable populations. Greatness, in this context, is not merely about political success but about building a Nigeria where prosperity, justice, and peace are attainable for all.

Citizens are not passive observers; they are active participants in governance. By engaging in respectful dialogue, supporting reforms, and holding leaders accountable through lawful means, they contribute to the nation’s growth. Patriotism does not mean blind loyalty—it means believing in the possibility of progress and working toward it.

A nation is like a family; disagreements are inevitable, but condemnation destroys trust. Citizens must rise above destructive criticism and embrace constructive engagement. By doing so, they preserve the dignity of their country and create an atmosphere where greatness can flourish. The path to national transformation lies not in tearing down but in building up—through patience, collaboration, and unwavering belief in Nigeria’s future.

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The greatness of any government is measured not only by the vision of its leaders but also by the resilience and cooperation of its people. For Tinubu’s administration, citizen patience and collaborative effort are indispensable. Together, government and citizens can write a new chapter in Nigeria’s history—one defined by progress, unity, and enduring impact.

*Hajia Hansatu Zannah is a distinguished member of the Governing Council of the African Union Agenda 2063 and Ambassador Plenipotentiary. She is also the widow of the late Zannah Umar Mustapha, former Deputy Governor of Borno State.*

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BREAKING: CBN revokes licences of 46 Microfinance Banks over failure to satisfy regulatory requirements

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The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country, citing their failure to meet key regulatory requirements for continued operation.

The decision takes effect from Wednesday, July 1, 2026, according to a statement issued by the Acting Director of the CBN’s Corporate Communications Department, Hakama Sidi-Ali. The apex bank said the action was taken in line with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020, and was approved by the CBN Governor, Olayemi Cardoso.

According to the CBN, the affected institutions lost their licences after failing to satisfy the conditions required to remain licensed financial institutions.

The bank explained that the revocation was based on one or more regulatory infractions, including insufficient assets to meet liabilities, shutting down operations without obtaining CBN approval, prolonged inactivity and cessation of financial intermediation, failure to commence business within 12 months after receiving a licence, and failure to maintain the minimum capital requirements without impairment from accumulated losses.

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The CBN described the move as part of its ongoing efforts to strengthen the nation’s financial system and ensure that all licensed financial institutions operate in compliance with existing laws and prudential regulations.

“The revocation of the licences is part of the Bank’s ongoing efforts to safeguard the stability of the financial sector, protect depositors, and ensure that licensed institutions comply with current laws and regulatory requirements,” the statement said.

The apex bank reiterated its commitment to maintaining a safe, sound and resilient financial system, stressing that it would continue to take appropriate supervisory and regulatory measures where necessary to sustain public confidence in Nigeria’s banking sector.

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Tinubu Hails Wike’s Performance, Says All FCT Districts Now Feeling Impact of Governance(Photos)

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President Bola Ahmed Tinubu on Wednesday hailed the performance of the Federal Capital Territory (FCT) Minister, Nyesom Wike, declaring that it has become very evidently clear that all districts in the FCT are now feeling the impact of governance through completed projects that improve the quality of life of residents.

The President, represented by Senate President Godswill Akpabio, spoke while commissioning the Full Scope Development of Akinwumi Ajibola Street, comprising Important Local Streets (ILS) 16, 18 and 19, in Gaduwa District, Abuja.

Describing the project as a practical demonstration of the Renewed Hope Agenda, Tinubu said his administration was focused on delivering projects that address the everyday needs of Nigerians.

“We are here to open a road, but more importantly, we are here to restore access. The Full Scope Development of Akinwumi Ajibola Street is now complete and open for use. In this government, we measure ourselves by finished work. This street is finished work,” he said.

According to the President, residents of Gaduwa endured years of hardship despite owning homes in the district because there was no motorable road linking them to their properties.

“For years, families in Gaduwa built homes here in good faith, yet they had no motorable road to reach those homes. When the rains came, the place became impassable. That is not how a capital city treats its citizens. Under the Renewed Hope Agenda, we came to work, and today that promise is visible on these streets,” he added.

Tinubu commended the Minister of the Federal Capital Territory, Barr. Nyesom Wike, for changing what he described as the culture of project delivery in Abuja through effective supervision, prompt funding and timely completion of projects.

“When the Honourable Minister reviewed the files and saw the neglect, he did not issue another memo. He brought contractors back to site, gave clear targets and backed those targets with funding.

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“You have changed the culture of delivery in the FCT. You ended the era of mobilisation without movement and abandoned inner roads. You are taking development from the city centre into the districts and satellite towns so that no resident is left behind. You have my confidence and my commendation,” the President said.

He noted that the completed road would improve mobility, reduce travel time, enhance property values and provide safer access for residents through the provision of drainage and streetlights.

Tinubu also urged residents to protect the infrastructure by preventing vandalism and ensuring drainage channels remain free of refuse.

“We will not stop here. Across the FCT, from the city centre to the area councils, our task is to finish what matters, connect what was separated and ensure that public funds translate into public value,” he said.

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Earlier, FCT Minister Barr. Nyesom Wike said the commissioning formed part of the 16th project in the administration’s ongoing 31-day project inauguration programme marking President Tinubu’s third year in office.

According to him, the President had directed upon assumption of office that every district in the FCT must benefit from government projects, irrespective of whether they are located in the city centre or satellite communities.

“You instructed us that every district in the FCT must feel the impact of this administration. Today, I can confidently say that no district can claim it has been neglected. We have taken development to Jahi, Gwarimpa, Katampe, Guzape, Kwali and now Gaduwa,” Wike said.

The minister attributed the rapid execution of projects to the cordial working relationship between the Executive and the National Assembly, which ensured timely budget approvals and releases.

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He also cautioned the Abuja Municipal Area Council (AMAC) against naming roads constructed by the Federal Government without due approval.

“If the Federal Government constructs the roads, permission must be obtained before naming them. Do not wait for us to build roads before putting names on them or using them to generate revenue,” he warned.

In her remarks, the Minister of State for the FCT, Dr. Mariya Mahmoud, described the commissioning as another milestone in the implementation of the Renewed Hope Agenda.

She said the project reflected the administration’s commitment to people-oriented infrastructure that improves mobility, enhances economic activities and raises the living standards of residents.

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Mahmoud commended President Tinubu, Wike, the National Assembly, contractors, consultants, traditional rulers, security agencies and residents of Gaduwa for their contributions to the successful completion of the project, assuring that the FCT Administration would sustain the pace of infrastructure development across the territory.

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